Economy. ArcelorMittal profits hit 9.5 billion through September, after its best quarter since 2008

MADRID, November 11 (European press) –

ArcelorMittal reported an attributable net profit of $10,911 million (€9413 million) in the first nine months of 2021, in contrast to losses of $1,940 million ($1,674 million) in the same period in 2020, after recording the best between the July and September quarter. First course for steel company since 2008.

ArcelorMittal turnover between January and September totaled $55,765 million (€48,112 million), an increase of 42.7% over the same period in the previous year, mainly driven by higher steel prices, while the total exploitation result (Ebitda) was $14,352 million. 12,382 million euros), six times more than the previous year.

In the third quarter of the year, ArcelorMittal reported net profit attributable to $4.621 million (€3.987 million), compared to a loss of $261 million (€225 million) in the same period in 2020.

Sales of multinationals totaled $2,229 million (€17,453 million) between July and September, up 52.5% from the third quarter of 2020, mainly thanks to the 75.5% increase in steel prices.

Similarly, the company’s net debt at the end of the third quarter fell to $3,900 million (€3,365 million), its lowest level since the company’s merger in 2006, versus $5,000 million (€4,314 million) of debt at the end of the second quarter.

“The third quarter results were supported by the ongoing strong pricing environment, resulting in the highest net profit and lowest net debt since 2008,” said Aditya Mittal, CEO of ArcelorMittal, noting that despite the still notable volatility as a result of the continued presence of And the fallout from Covid-19, this has been a very strong year for ArcelorMittal.

He added, “The outlook remains positive: underlying demand is expected to continue to improve; and while slightly lower than recent record highs, steel prices remain elevated, which will be reflected in the 2022 annual contracts.”